Continued Advancements in Software and Programming by Web Development Companies Sets Them Up for Significant Tax Credits
WEST PALM BEACH, Fla., April 13, 2021 (Newswire.com) - Companies within the web and software development industry are constantly researching and developing new ways to improve technology. Many of the programming, coding, and software design activities already done by these companies can make them eligible for the lucrative but commonly overlooked research and development tax credit. At National Tax Group we aim to make sure these companies aren't missing out on credits they can receive.
"Research and development tax credits are available to businesses across a wide span of industries," said Lee Ferry, President of National Tax Group. "Businesses are no longer required to strictly develop a product or process that is unique to their industry; it only needs to be unique to them."
The assumption that companies have to develop groundbreaking innovations in the software development industry in order to qualify for R&D tax credits is a myth that causes a lot of businesses to miss out on the money they are owed. The reality is that a lot of day-to-day activities and projects do qualify and can be rewarded with tax credits.
Some examples of activities and projects that would make web and software companies eligible include:
- Merging and integration of legacy systems with new platforms or releases
- Programming to make websites mobile-friendly
- Moving services online to make services more accessible to people
- Rewriting a CMS
- Backend platforms and intra-net technology
- Programming source code
- Coding and application development
Developers and businesses who are working on these types of projects and activities should reach out to a team of seasoned tax experts to help them navigate how to claim these credits. Although many companies in the web development industry do qualify for these benefits, getting the proper documentation together is necessary to ensure accuracy and the greatest capture of the tax credit.
For more information about National Tax Group and how you may be able to benefit from their services, please call 561.257.3436. Like National Tax Group on Facebook at https://www.facebook.com/NationalTaxGroup and on LinkedIn at https://www.linkedin.com/company/2511229/
About National Tax Group
National Tax Group is a full-service group of tax professionals who provide high-quality tax solutions associated with 179D, 45L, Cost Segregation and Research & Development for businesses. Having worked in multiple areas of taxation, National Tax Group implements methodologies that are recognized by the government and has experience in complex tax incentive programs that have made them valuable partners to all of their clients. Their ability to seamlessly collaborate with every business has made them a rapidly growing firm capable of handling complex challenges.
Source: National Tax Group